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Oct 6, 2012
10/12
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these are the traders here in times square and in the lovely city of los angeles. the dow closing now for the third straight day and reports five-year highs, but the make-or-break moment is here. earning season is upon us, so the question is do you stay long into next week? let's get into money right now and find out. before we do that, though, we've got to talk about apple. it looks like there are signs of a breakdown here with apple breaking below the 50-day moving average, dan, moving lower by 2% on a day where the markets are basically flat. and on top of it, we have the foxconn strike. >> yes. so that headline came out that one of the factories in china where they make the iphone 5, the stock took a leg down. i mean maybe half a percent, three quarters of a percent. it was weak all day. >> right. >> but here's the thing. i think it feels like the momentum has kind of come out of the thing right here. we had this buildup into the iphone 5 release, and then obviously the units were a little disappointing. so here you have the thing on a technical basis, 650 is t
these are the traders here in times square and in the lovely city of los angeles. the dow closing now for the third straight day and reports five-year highs, but the make-or-break moment is here. earning season is upon us, so the question is do you stay long into next week? let's get into money right now and find out. before we do that, though, we've got to talk about apple. it looks like there are signs of a breakdown here with apple breaking below the 50-day moving average, dan, moving lower...
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Oct 5, 2012
10/12
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. >> mike out in los angeles, you're doing a little research, boots on the ground. what are you seeing on gas prices and what's your take? >> well, the gas prices obviously have been spiking here. it's amazing. you go to bed one night and come out the next day and drive past a gas station and you're going to see prices up 15 cents a gallon overnight. it's pretty staggering. pretty much that's because there's a couple issues. chevron had a fire and exxon on had a fire in torrance, california. that's put a lot of pressure on the gasoline markets here. that sets up very well for those that can like va lalero. they do about up to 300,000 barrels day. this is really a great tail wind for them. i actually did a little back of the napkin. i think this added $600,000 a day based on 275 barrels day. the other thing is this company is really cheap. it's trading at 7 1/2 times on the earnings. but i don't tell people to buy stocks that are up 60%. so we're going to have to look for a better way to do it. >> all right. so mike obviously is bullish and instead of buying stocks h
. >> mike out in los angeles, you're doing a little research, boots on the ground. what are you seeing on gas prices and what's your take? >> well, the gas prices obviously have been spiking here. it's amazing. you go to bed one night and come out the next day and drive past a gas station and you're going to see prices up 15 cents a gallon overnight. it's pretty staggering. pretty much that's because there's a couple issues. chevron had a fire and exxon on had a fire in torrance,...
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Oct 8, 2012
10/12
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aaa says the average price in los angeles of regular is $4.70, a record. this should start to change since the governor ordered a cheaper blend of gas to be sold here three weeks ahead of normal. >> this is a great step. it will allow refiners to produce 10% more gasoline, like adding another refinery to the market, so it will make a big difference. >> reporter: oil refiners are saying, get ready for new trouble ahead as a law forcing new clean air standards on california industry called ab-32 takes expect. a boston consulting group study predicted five to seven california refineries could shut down as a result of ab-32 related costs. caught in the middle, drivers. >> can't do anything about it so we have to deal with it. it's unfortunate but that's just how things are at the moment. it just sucks. in so many words. >> reporter: well, the president is in california today. we don't know if he has said anything yet about the gas price situation. so far none has been reported. of course, more gasoline coming into california could have the unintended consequen
aaa says the average price in los angeles of regular is $4.70, a record. this should start to change since the governor ordered a cheaper blend of gas to be sold here three weeks ahead of normal. >> this is a great step. it will allow refiners to produce 10% more gasoline, like adding another refinery to the market, so it will make a big difference. >> reporter: oil refiners are saying, get ready for new trouble ahead as a law forcing new clean air standards on california industry...
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Oct 2, 2012
10/12
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it turns out that i have a line of credit where let's say if i want to buy something like the los angeles lakers i could buy the lakers. they are not for sale. >> you would like to buy them? >> sure. i would love to buy the lakers. very expensive way to get floor seats. the lakers are my favorite team though i also follow the warriors and the chicago bulls. >> so you take this line of credit. >> i have a line of credit in case i go shopping and something catches my eye. it's just a line of credit. >> so what happens now? you have built this unbelievable company, 100 billion plus. you have an enormous amount of personal wealth. when you look back at your modest beginnings it is pretty extraordinary. >> it is extraordinary. steve and i used to talk about this a lot. i think both of us agreed every once and a while you think about it but 99.9% of the time you go on with the miracle of life, just being alive every day and doing your job and enjoying being alive. i really don't spend a lot of time thinking about how far i have come from the lowery side of manhattan. the internet isn't always 1
it turns out that i have a line of credit where let's say if i want to buy something like the los angeles lakers i could buy the lakers. they are not for sale. >> you would like to buy them? >> sure. i would love to buy the lakers. very expensive way to get floor seats. the lakers are my favorite team though i also follow the warriors and the chicago bulls. >> so you take this line of credit. >> i have a line of credit in case i go shopping and something catches my eye....
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Oct 3, 2012
10/12
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we have actually ten of them in the new york area and two in los angeles. and we give kids the tools to deal with the abuse going on in their lives because it's such a terrible, terrible thing. as i say, to me, it's a health issue. people just don't talk about it because they don't know what to do about it. >> i think that's right. that's really a very important point that you mentioned because it's such a horrible story. people are afraid. they shut down and don't discuss it. you're putting a light on it. how much money have you raised so far? >> we've raised millions of dollars. our highlight at our dinner, which is november 8th, and i'm going to go on record again to invite you to our gala. >> thank you so much. november 8th. i'm going to look at that and i want to be there for you. >> the -- we've raised, you know -- we have fundraisers. we have a golf tournament. we have our gala every november. you know, we -- everything we raise we spend because it costs us noun put these safe rooms in schools, which we name after my mom, margaret's place. >> right.
we have actually ten of them in the new york area and two in los angeles. and we give kids the tools to deal with the abuse going on in their lives because it's such a terrible, terrible thing. as i say, to me, it's a health issue. people just don't talk about it because they don't know what to do about it. >> i think that's right. that's really a very important point that you mentioned because it's such a horrible story. people are afraid. they shut down and don't discuss it. you're...
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Oct 4, 2012
10/12
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other arrests in los angeles, detroit, dallas, chicago, and more. of course we have been reporting for months on the huge problem of medicare and medicaid fraud. estimated at some $80 billion a year on the low end. this crackdown, which came up in last night's presidential debate. authorities tell us they found every kind of scheme imaginable in this operation. false billing for medical equipment, community mental health, home health care, the list goes on. among those reportedly arrested -- a hospital ceo in houston, as well as doctors, nurses and other providers. we will be monitoring this news conference and the indictments as they come out. more as we get it here and on cnbc.com. >> scott, thank you. we'll check back with you as conditions warrant. >>> now to the markets. they're moving higher today, up 75 points on the dow, five on the nasdaq. s&p is up better than 8 1/2. we want to drill down on last night's debate. >>> we want to begin with cnbc.com's senior editor john carney. have you an interesting take on what happened last night. it coul
other arrests in los angeles, detroit, dallas, chicago, and more. of course we have been reporting for months on the huge problem of medicare and medicaid fraud. estimated at some $80 billion a year on the low end. this crackdown, which came up in last night's presidential debate. authorities tell us they found every kind of scheme imaginable in this operation. false billing for medical equipment, community mental health, home health care, the list goes on. among those reportedly arrested -- a...
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Oct 3, 2012
10/12
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the ceo joins us from los angeles. good morning to you. >> good to see you. >> i'll start with the promise of free data. what's the catch? >> no catch. no gimmicks. we're giving every user 500 mega bits of free data a month at a minimum. they can earn more and add friends to freedom pop and earn 10 megs per friend. >> essentially they put down a fully refundable did deposit it says for the modem. as he said, 500 megabytes a month free. and then i guess $10 for each gig over that. that's not a lot of data, i wonder if you think the free part at least might lemt your audience. >> actually 70% of americans actually use less than 500 me megabytes on month on their cell phone. so from the broader market, it's sufficient. but data usage is going up. it's exploding. and the reality is our prices, if you want to buy 5 gigs, our prices are 30% cheaper than verizon orat&t. and there's no contract fees and no fluff. >> nationally you with 4 glt. why do this? i know you have some philosophical reasons behind it, you think the inte
the ceo joins us from los angeles. good morning to you. >> good to see you. >> i'll start with the promise of free data. what's the catch? >> no catch. no gimmicks. we're giving every user 500 mega bits of free data a month at a minimum. they can earn more and add friends to freedom pop and earn 10 megs per friend. >> essentially they put down a fully refundable did deposit it says for the modem. as he said, 500 megabytes a month free. and then i guess $10 for each gig...
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Oct 1, 2012
10/12
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whenever we have anyone in, angel investors, most venture capitalists say they're not as affected by regulations as some of the more mature companies. >> what matters is if you create an environment for people to invest in the united states. the last several administrations i went to washington if intel is going to build this next major manufacturing facility the net present value of the facility in a u.s. compared to a lower corporate tax environment is $ billion. it's a tough sell to be patriotic and have that facility in the u.s. cut the corporate tax rate down to a competitive level. i think technology will continue to advance. the problem is keeping the good ideas in the u.s. and create jobs. >> it can happen in spite of things or you can help or be sort of in the way? >> or you can facilitate for an economy which is growing. what we do with foreign graduate students, taxpayer money pays to educate them to get thai masters and ph.d.s and tech topics and our immigration policy says go home. it's a brilliant philosophy. >> you said the growth in intel will be abroad. whatever the
whenever we have anyone in, angel investors, most venture capitalists say they're not as affected by regulations as some of the more mature companies. >> what matters is if you create an environment for people to invest in the united states. the last several administrations i went to washington if intel is going to build this next major manufacturing facility the net present value of the facility in a u.s. compared to a lower corporate tax environment is $ billion. it's a tough sell to be...
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Oct 8, 2012
10/12
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steven romick is the portfolio manager at first pacific advisers, he will join us from los angeles and "squawk" will be back. >>> "squawk box" is on facebook. "like" the show and get updates, commentary, news and much more, add us to your pages and keep up with what's happening on the show. "squawk box" on facebook, and cnbc. ...and listening to your instinct duff & phelps finds the sweet spot that powers sound decisions. duff & phelps financial advisory and investment banking services. mike rowe here at a ford tell me fiona, who's having a big tire event? your ford dealer. who has 11 major brands to choose from? your ford dealer. who's offering a rebate? your ford dealer. who has the low price tire guarantee... affording peace of mind to anyone who might be in the market for a new set of tires? your ford dealer. i'm beginning to sense a pattern. buy four select tires, get a $60 rebate. use the ford service credit credit card, get $60 more. that's up to $120. where did you get that sweater vest? your ford dealer. wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm
steven romick is the portfolio manager at first pacific advisers, he will join us from los angeles and "squawk" will be back. >>> "squawk box" is on facebook. "like" the show and get updates, commentary, news and much more, add us to your pages and keep up with what's happening on the show. "squawk box" on facebook, and cnbc. ...and listening to your instinct duff & phelps finds the sweet spot that powers sound decisions. duff & phelps...